Committee on whether payment gateway reporting entity under PMLA contrary to court order: PayPal to HC PayPal has contended that only a bank or an authorised dealer of foreign exchange will be a reporting entity and it only a facilitator of financial transactions between registered banks PTI | May 20, 2021 | Updated 14:47 IST American online payment gateway, PayPal, on Thursday told the Delhi High Court that the constitution of a committee to examine whether entities like it can be considered as a payment system operator and a reporting entity under PMLA was contrary to the court's orders. Therefore, the report submitted by the committee was illegal, PayPal said to Justice Rekha Palli who was hearing the company''s plea challenging a Rs 96 lakh penalty imposed on it by the Financial Intelligence Unit (FIU) India for alleged violation of the Prevention of Money Laundering Act (PMLA).